Monthly Price/Fair Value by Region 06/30/2020 U.S. Greater Europe Greater Asia P/FV +30.0% A percentage of 0.0 connotes fairly valued 9.3 -0.6 -1.9 0.0 -30.0 U.S. 06/30/2020 2015 2017 2018 Greater Europe 06/30/2020 P/FV (%) Date 52-Week High 9.8 01/17/2020 52-Week Low -22.8 All-Time High* All-Time Low* Date 52-Week High 5.2 01/17/2020 03/20/2020 52-Week Low -22.2 16.5 01/16/2004 All-Time High* -36.1 11/21/2008 All-Time Low* Date 52-Week High 1.4 06/26/2020 03/20/2020 52-Week Low -19.7 08/30/2019 41.0 07/01/2005 All-Time High* 42.8 01/23/2004 -34.7 03/06/2009 All-Time Low* -41.1 10/24/2008 *All-time highs and lows since June 2002 to present. -2.3 22.4 1.9 -22.4 -12.7 -0.5 -11.9 -11.3 11.3 24.7 Averages Value Blend Growth -3.8 28.3 2.4 -23.6 -9.0 11.8 -6.3 -22.4 -12.3 -0.9 -11.2 -17.1 -6.1 21.1 Averages Value Blend Growth Moat Valuation Large -15.6 -14.8 -17.1 -3.2 23.8 1.4 Mid 12.8 Large 27.2 Mid 16.0 Style Valuation Small Style Valuation -9.2 -18.7 -4.5 -11.0 -3.4 -20.7 -10.2 -2.4 -11.2 -17.8 -4.3 18.2 Averages Value Blend Growth Moat Valuation Uncertainty Rating Low Medium Moat Valuation Uncertainty Rating High Very High Economic Moat None 16.9 39.8 4.1 -15.3 None Narrow 10.3 11.7 11.6 -16.4 Wide 12.6 10.6 15.3 -15.5 2020 P/FV (%) *All-time highs and lows since June 2002 to present. Style Valuation 2019 Greater Asia 06/30/2020 P/FV (%) *All-time highs and lows since June 2002 to present. Economic Moat 2016 Large 2014 Mid 2013 Small 2012 Small 2011 Low Medium Uncertainty Rating High Very High Economic Moat Low Medium High Very High 6.0 -4.6 -13.9 -28.1 None 0.0 -3.2 -7.7 -20.9 Narrow 20.6 5.3 1.4 -17.9 Narrow 6.4 4.3 5.0 -5.8 Wide 20.1 18.8 4.1 - Wide 2.4 21.2 21.8 - morningstar.com/lp/magazine 75http://www.morningstar.com/lp/magazine